15233 Ventura Blvd., Suite 1160
Sherman Oaks, CA 91403
Phone: (800) 958-6760
Available 24/7/365 by phone
Monday – Friday: 8:30am – 7:00pm
Saturday: 9:00am – 5:00pm
We are a bankruptcy law firm located in Southern California dedicated to solving the financial problems of clients like you. We have five offices serving Sherman Oaks, Long Beach, Ontario, Lancaster, and Los Angeles, and our attorneys have filed over 10,000 bankruptcy cases. Our experience and excellent client communication sets our attorneys apart, and has given us a reputation as a top bankruptcy and debt relief firm.
Sherman Oaks Bankruptcy Attorney
Our legal team of experienced attorneys has filed over 10,000 cases and has over 30 years of combined experience. While our experienced attorneys are second to none, our experience has taught us that knowledge of the Bankruptcy Code is not all that counts to our clients. No matter how good your attorney is, bankruptcy can be a confusing and intimidating process. Our attorneys are not only extremely knowledgeable; they understand that many of our clients come to us in a time of need. They are sensitive to your needs and unique situation, and take the time to fully explain the bankruptcy process to you. They also understand that bankruptcy can be a last resort and is not right for everyone. Our attorneys have experience in many alternatives to bankruptcy. After a free consultation to evaluate your financial situation, they will explain your financial and legal options, and recommend a course of action that is right for you. Whether it is debt settlement, a short sale of your home, or settling your second mortgage, our attorneys are able to tailor a solution that best fits you. This commitment to our clients is reflected in our A+ rating with the Better Business Bureau, and by the support of our thousands of satisfied clients. When it comes to your financial future, it is essential to put your trust in the hands of experienced attorneys. If you are experiencing financial hardship, the experience, personal attention, and tailored legal solutions provided by the attorneys of our firm is unrivaled.
Services We Offer
At our firm, we offer a broad range of services aimed at solving our clients’ financial issues.
We are a full-service bankruptcy law firm that specializes in consumer bankruptcy cases. Our attorneys have over 30 years of combined experience, and we have filed over 10,000 cases. This allows us to provide an unsurpassed level of service, while obtaining the best results for our clients. One such service we offer is a Chapter 7 bankruptcy. This form of bankruptcy is a relatively quick and simple solution for clients who are in over their heads with debt. Within a matter of months, most if not all of your debts are wiped clean. This unique ability to be given a “fresh start” is a powerful legal tool only found in bankruptcy. However, how quickly and smoothly this process goes depends largely on the quality of the attorney you retain. Our experienced attorneys are able to guide you through a Chapter 7 with ease, and their local knowledge of trustees and judges reduces the chance that there will be any unforeseen issues in your case.
Chapter 13 Bankruptcy
Another bankruptcy service we offer is Chapter 13 bankruptcy relief. If you are behind in your payments and debts are mounting, yet you still have a steady income, this may be the right solution for you. It creates a payment plan in which a certain percentage of your unsecured debts are paid off over time, with the rest being wiped out at the end of the plan. Creating this plan, as well as dealing with the myriad of issues that arise in these cases, necessitates using a seasoned bankruptcy attorney. Our attorneys have filed thousands of these cases, and have experience in dealing with almost any issue that can arise.
If you are burdened with credit card debt, and bankruptcy isn’t right for you, our attorneys can work to settle your debts. Our experienced team of lawyers can negotiate with your creditors on your behalf, and reduce your balances to a manageable level. Our unique knowledge of creditor rights within bankruptcy gives us an edge when dealing with such companies and getting the best results. Unlike most debt settlement companies, we adhere to the strictest ethical and legal practices, letting you rest assured that your finances are safe with us.
Many of our clients come to us with a second mortgage on their house that has left them struggling to pay their bills. The higher interest rates and sometimes unfavorable terms on these mortgages can be a large burden. We can help, as our attorneys are well versed in the laws surrounding second mortgages, and can negotiate with your lender and obtain a manageable settlement for you.
Another issue that our clients often come to us with is tax debt. Taxes owed to the government can be cumbersome, and they have their own set of priority and dischargability rules that other debts do not have. As our attorneys have a great deal of experience dealing with tax debts and the IRS, we are able to offer tax settlement services to our clients. Sometimes known as Offer in Compromise, we will negotiate with the IRS on your behalf to obtain a settlement for you that you can manage.
Many Americans today are facing foreclosure, and do not wish to lose their homes. Our firm offers a number of legal solutions that may save your house. Filing a Chapter 7 or 13 bankruptcy temporarily stops any type of foreclosure action. In a Chapter 13, arrearages can be paid and loans in default can be reinstated. However, how your home will be impacted by a bankruptcy should be discussed with one of our attorneys. We also offer short sales services. This process allows you to sell your home for less than what is owed on it. However, this often entails a long and complicated negotiation process with your lender. Our attorneys are able to obtain such an agreement for you without the usual hassle or risk.
After our clients are on more secure financial footing, we don’t stop serving them. We offer estate planning services such as wills and living trusts in order to help ensure that you and your family’s financial future is bright.
When debt and bills become overwhelming, it can sometimes be hard to know where to turn or what options you have. With all the services we offer, many of our clients don’t know where to start. The first step is to give us a call to get a free, no-obligation consultation. One of our experienced attorneys will go over your financial situation in detail with you. They will create a custom legal solution for you, and answer any of your legal questions today. To get started, give us a call today.
Individual Chapter 11 Cases
When Chapter 11 bankruptcy is mentioned, people think of corporate restructuring and not individual consumers who are seeking bankruptcy relief. While Chapter 11 bankruptcies are normally used by corporations to restructure and save their businesses, this form of bankruptcy relief is sometimes available to individuals. It allows those few individuals who are ineligible for both a Chapter 7 and a Chapter 13 bankruptcy to seek relief under the Bankruptcy Code. These people would not pass the ‘Means Test’ to qualify for Chapter 7 bankruptcy, and have debts too large to qualify under the Chapter 13 debt limits. Therefore, Chapter 11 bankruptcy is their only choice. Much like a Chapter 13, this form of bankruptcy allows the debtor to remain in control of their assets. In addition, it allows the debtor to restructure their debts rather than having their assets liquidated and distributed to creditors.
Traditionally, only businesses have utilized Chapter 11 bankruptcy relief. However, Section 109(d) of the Bankruptcy Code states that only a person who may be a debtor in a Chapter 7 bankruptcy may apply for Chapter 11 bankruptcy relief. As individuals are very much eligible to file Chapter 7 cases, this allows them to file under Chapter 11 as well. However, some argued that the language of Chapter 11 in the Bankruptcy Code often appears very specific to businesses, and therefore was not intended for use by individuals. In response, the Supreme Court in Toibb v. Radloff in 1991 stated that the inclusion of many provisions in the Code that appear specific to businesses reflect an expectation that Chapter 11 would be primarily used by corporations. Thus, while many provisions are manifestly inapplicable to individuals, it does not preclude them from filing for this type of relief.
Yet applying a Chapter of bankruptcy law to individuals that was primarily intended for business can cause issues. For example, creditor can force an individual into Chapter 7 bankruptcy, but cannot force them into a Chapter 13 bankruptcy. This is because forcing someone to create a payment plan and commit future earnings to creditors would essentially chain a person to creditors against their will. It has been very well established that this would violate the Thirteenth Amendment’s prohibition of involuntary servitude. However, the Bankruptcy Code does provide for the ability of creditors to force a business into Chapter 11 bankruptcy. Yet when applied to an individual, this raises all the same problems that an involuntary Chapter 13 does. Therefore, an involuntary Chapter 11 case against a debtor may be unconstitutional.
However, the 2005 amendment to the Bankruptcy Code known as BAPCPA made it far more difficult for these debtors to file and obtain a discharge in a Chapter 11 bankruptcy. It has made this form of relief resemble that of a large Chapter 13 bankruptcy, imposing similar limitations and regulations. While filing a Chapter 11 bankruptcy may be rare for consumers, it fills an important niche for some. Without this provision of the Bankruptcy Code, many people who desperately need the protections of bankruptcy would have no recourse under the law.